Compliance with Model Code

City Merchants High Yield Trust Ltd

HEADLINE:            Listing Rule 15.5.1 – Transactions in a close period

In accordance with LR 15.5.1, the directors of City Merchants High Yield Trust Ltd (‘the Company’) confirm that they are satisfied that all inside information which the Directors and the Company have had to 30 June 2015 has been notified to a Regulatory Information Service and therefore dealings as referred to in LR 15.5.1 (3) are permitted.

Hilary Jones

For and on behalf of

R&H Fund Services (Jersey) Ltd

1 July 2015